Rakuten, E*Trade
To Cut Commissions

Dow Jones Newswires

Updated Aug. 19, 2005 12:01 a.m. ET

TOKYO -- Rakuten Inc.'s securities-brokerage unit and E*Trade Securities Co. said separately they will cut their stock-broking commissions in October, bringing the lowest commission rates for Japanese online traders down by nearly 40% this year.

Internet-shopping-mall operator Rakuten said its unit Rakuten Securities Inc. will lower its stock-broking commission for a transaction of 500,000 yen, or about $4,550, or less, to 472 yen in...